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Weekly Market Snapshot: Records Everywhere as a Blowout Canadian Jobs Report Meets a Shock U.S. Loss

  August 8, 2026 A short, holiday-shortened week still managed to deliver record after record. The TSX, the S&P 500, the Nasdaq, and Europe's major indices all closed the week at or near all-time highs — even as Friday's jobs numbers told two very different stories on either side of the border. Here's everything that moved your money this week, and what to watch next. The Bottom Line The TSX capped its biggest weekly advance in about four months, closing Friday at a record 36,381.23 after Canada added a blowout 75,100 jobs in July (versus 17,800 expected). Wall Street also hit fresh records — but for the opposite reason: US employers unexpectedly cut 23,000 jobs, which markets read as reducing the odds of any further Fed rate hikes. Add in a fourth straight record close for European stocks, a wild swing in oil, and gold pushing toward US$4,400/oz, and it was a week where almost every major asset class ended up higher. 🇨🇦 Canada: TSX's Best Week Since April Canadia...
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Canada’s Railways and Union in Critical Talks as Midnight Deadline Looms

 

Canada’s two major freight railroads, Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC), are currently embroiled in intense labor negotiations. The stakes are high: if an agreement isn’t reached by midnight, thousands of workers could face a lockout. This would halt the movement of approximately $1 billion worth of goods that traverse these companies’ tracks daily.

Prime Minister Justin Trudeau has urged both sides to continue their efforts at the negotiation table. He emphasized that millions of Canadians, workers, farmers, and businesses across the country are counting on a resolution. The Canadian Chamber of Commerce, Business Council of Canada, Canadian Federation of Independent Business, and the Canadian Manufacturers & Exporters have also called on the federal government to take immediate action to keep trains running and goods flowing.

The situation remains tense, and the outcome will have significant implications for the Canadian economy. Let’s hope that a last-minute agreement can be reached to avert a major rail stoppage. 

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